Description: Lecture, seven and one half hours. Not open to freshmen. Introduction to role and use of models and modeling in managerial decision making, with focus on important types of models, their formulation and application, and insight and information that may be gained from use of modeling. Enables managers to understand role of quantitative models in firms that are most often applicable in business planning and decision making. Discussion of applications in area of accounting, finance, marketing, and operations, with emphasis on model formulation, interpretation of solutions, and understanding of mathematical versus verbal explanation of situations. Use of solution techniques and computer to solve problems. Offered in summer only. Letter grading.

Units: 4.0